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 Market Watch May 2001

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Market Watch
For Further Information: 443-8152

Best Sales Ever

TORONTO -- Monday, June 4, 2001

In May, 7,485 homes were sold through the Toronto Real Estate Board MLS system, the largest single month total in the Board's 81 year history, TREB President David Pearce reported today. "May's results are astounding, up 27% over the same month last year, and well above the 6,607 sales recorded in March of 1988, which was our previous record."

Pearce attributed May's results to a healthy economy and the wide array of product presently available. "With 22,569 listings on the market, there's a home to suit nearly everyone's taste and income bracket. This factor combined with low interest rates and high employment levels in Toronto, means that more and more homebuyers are flocking to the city of opportunity."

Breaking down the total, 2,719 sales were reported in TREB's 28 West districts and averaged $236,683; 1,193 sales were reported in the 14 Central districts and averaged $366,511; 1,525 sales were reported in the 23 North districts and averaged $269,162; and 2,048 sales were reported in TREB's 21 East districts and averaged $205,498.

Neighbourhood Corner
Ajax

Ajax (E-14) saw overall prices go up about 5% in 2001, to $201,318 from last year's $192,527. In the detached homes category, prices were up 4% to $219,550 on the basis of 407 year-to-date sales, with upper-end homes selling for $500,000 plus. Also, 50 condominium apartments have changed hands in Ajax over the course of the year, and prices of these have risen 5% to $130,632.


Dwelling Type

Single Detached

Semi Detached

Condo T.H.

Condo Apt.

Link

Attached/Row

Co-op Apt.

Detached Condo

Sales

3,869

878

735

1,358

260

370

13

2

Median

$266,000

215,750

171,900

159,000

216,250

195,250

152,000

265,000


    Housing Market Indicators

    May 2000

    May 2001

    % Change

    Sales*

    5,892

    7,485

    (+27%)

    Sales (P.O.T.)

    1,226

    1,290

    (+5%)

    New Listings*

    9,369

    10,789

    (+15%)

    Active Listings**

    20,731

    22,569

    (+9%)

    * Single-Family Dwellings Only
    ** Properties All Types including Single-Family Dwellings.


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06/01